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Wall Street steadies, Broadcom warning hits chip stocks


NEW YORK (Reuters) - U.S. stocks were flat to lower in late afternoon trading on Friday, though a warning from Broadcom of a broad weakening in global demand weighed on chipmakers.

Shares of Broadcom Inc fell 5.5% after it cut its full-year revenue forecast by $2 billion, blaming the U.S.-China trade conflict and export curbs on Huawei Technologies Co Ltd.

Shares of Apple Inc also slipped 0.85% and weighed the most on the S&P 500 and the Nasdaq. Broadcom is a major supplier to the iPhone maker.

Losses in chip companies, who both source product and ...


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